OPENLANE, Inc. (KAR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and welcome to the Openlanes first quarter 2025 earnings call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on the touch-tone phone. To withdraw your question, please press star, then two. Please note that this event is being recorded. I would now like to turn the conference over to Jared Harnish. Please go ahead. Thank you, Operator. Good afternoon, everyone. Welcome to OpenLane's first quarter 2025 earnings call. With me today are Peter Kelly, CEO of OpenLane, and Ryan Miller, OpenLane's Vice President of Finance for the Marketplace business. Our remarks today include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risk and other uncertainties that may cause our actual results or performance to differ materially from such statements. Factors that could cause such differences include those discussed in our press release issued today and in our SEC filings. Certain non-GAAP financial measures, as defined under the SEC rules, will be discussed on this call. Reconciliations of GAAP to non-GAAP measures are provided in our earnings material and available in the investor relations section of our website. With that, I'll turn the call over to Peter. Peter? Thank you, Jared, and good afternoon, everyone. I'm pleased to be here today to share OpenLane's strong results from the first quarter. I'll start with a few highlights, but spend the majority of my time discussing our strategy and our perspectives on the overall market environment, inc...